Knowing about Rates, Lightbulbs, and Mousetraps
Knowing Quote of the Day: “The only true wisdom is in knowing you know nothing.” – Socrates (*I felt a lot of true wisdom in my high school Spanish class)
This Week in Economic History: It was on October 15th, 1878 that Thomas Edison, inventor of the lightbulb, unveiled the Edison Electric Company with guidance and funding from J.P. Morgan. It would later be known as the General Electric Company. Interesting side note: Every time a lightbulb appears over someone’s head in a cartoon the heirs of Edison earn a commission. Interesting side note 2: I made that up.
Wuss’up This Week: Every day reports about our economy are released into the wild, and it’s these reports that can sway interest rates in either direction. Today we’ve got Retail Sales (expected: up 0.3% which should be true, I just bought a Fruit of the Loom underwear 6-pack), tomorrow Weekly Jobless Claims (expected: 214k), and on Friday the Leading Economic Indicators.
Interest rates are off their lows from 2-3 weeks ago but still we’ve got NOTHING to complain about, Mortgage Fans. Today the 30-year fixed rates can be found anywhere from 3.625% – 4.125% and adjustable rate mortgages a teeny sliver less. As usual rates will vary based on type of home, equity in the home, your credit score, and if you went to one of the 25 hardest colleges to get accepted to.
Don’t Forget to Remember: Any purchase or refinance that closes with me between now and Thanksgiving I will waive $500 in lender fees! Grab yourself a cup of instant karma and pass my info to any friends, family, coworkers or Mouse Trap Divers that can use this gift.
Knowing Quote of the Day 2: “George Clooney goes through life knowing no one has ever hit ‘ignore’ in the history of ‘George Clooney’ appearing on Caller IDs.” – @DamienFahey
Timeout for Trivia: Congrats to those who last week guessed John Lennon. Want to be entered into a drawing to win a Star Wars Death Star Waffle Iron? Simply email me the answer to this week’s Who Am I? question. Good luck: “Yesterday would’ve been my birthday, and you certainly don’t have to trade me in exchange to hear what someone thinks. Let me tell you what I think: If I was still alive I’d be either directing movies or starring in sitcoms (*this blogger says I directed one of his favorite movies of all-time, a baseball movie). I was once in a sitcom where I liked my roommate and Loved my clothes! Speaking of sitcoms, my ex-husband starred in one where PETA would not have approved his nickname.”